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Investors Flock To Jersey Turnpike

Publication Date: 5/6/2009
Author: Aileen Cho
Format: HTML

Description:
The New Jersey Turnpike Authority can proceed at full speed with its $7-billion capital program, thanks to being the nation’s first transportation agency to sell more than $1 billion in taxable bonds that come with a 35% reimbursement from the federal government under the American Recovery and Reinvestment Act. The Build America bonds (BABs) will contribute $1.375 billion to the authority’s 10-year capital program, along with $375 million sold in traditional tax-exempt bonds.

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